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Average Mutual Fund Assets Fell in Jan 2010

The average assets under management (AUM) of the mutual fund industry fell four per cent in January 2010 to Rs 761632 crore from Rs 794486 crore in December 2009

Oct 23, 2010 17:17 IST
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The average assets under management (AUM) of the mutual fund industry fell four per cent in January 2010 to Rs 761632 crore from Rs 794486 crore in December 2009. The banks withdrew from funds to meet the Reserve Bank of India's directive to reduce their exposure to mutual funds. Concerned over the, the RBI was concerned over the circular movement of funds between banks and mutual funds and hence asked banks to cap their investments in MFs in its October 2009 review of the monetary policy.